13 Mar My Review of SEON
The new post-pandemic normal drastically increased remote and hybrid workplaces — along with fraud attempts. In today’s modern world, organizations of all sizes and industries should protect themselves from the catastrophic consequences of cybercrime. After all, one successful instance of online criminal activity can cause victims legal sanctions, reputation damage, and monetary losses.
One of the most cost-effective ways to protect firms and consumers is to use fraud detection software like SEON. Such technologies monitor, investigate, and block dubious digital activities.
To date, the company has served over 5,000 merchants, viewed over a billion transactions, and saved users over $50 million.
Does the brand live up to its reputation?
Read on for our honest assessment of SEON.
We now know why SEON is a popular brand among business owners. Here are some of the benefits of using this software:
- Quick and seamless integration for most systems
- User-friendly interface
- Transparent application programming interfaces (APIs)
- Valuable data ideal for reports
- Impressive return on investment (ROI)
While SEON impressed us, there are still a few things we want to improve, such as:
- The lack of customization options
- Repeated logins for security purposes
- Waiting time for customer service representatives
In a Nutshell
Overall, we would recommend SEON to any organization.
When we first used the software, we successfully integrated the solution with our system in less than 30 minutes. From this point on, it kept impressing us with useful features ideal for various business settings.
For us, its best attribute is the Manual Page for email checks. With this tool, you can validate any account used to make a transaction. The SEON system assesses the email and reveals information about potential security breaches.
Also, SEON provides crucial data through its API. You can use such information to develop internal algorithms and improve processes. With its technology on your side, you can elevate customer experiences and encourage brand loyalty.
However, we feel the login process could be better. The site automatically logs us out after some time, so we have to log in after every use. However, we understand that this feature is a preventive measure against fraudulent activities.
Still, overall, we would give this product five stars.
How Does SEON Work?
SEON uses rules like user behavior and data comparison to add or deduct points from a risk score of zero (not risky) to 100 (very risky). However, it lets security managers add rules and decide set thresholds.
This process lets organizations have full authority over risk management decisions. Ultimately, combining its machine learning capabilities with stringent human supervision ensures the safety of businesses, their employees, and their clients.
Who Uses SEON?
We can imagine how SEON can benefit any online business — from multinational corporations to small e-commerce startups. However, below are some of its most common users:
- Small businesses with under 50 employees
- Consumer goods brands
- Crypto exchanges
- Gambling operators
- E-commerce companies
- Lending institutions
- Payment gateways
While SEON provides custom solutions for larger enterprises, it offers four ready-made pricing options.
- Sense Platform: $0 per month
- Standard Plan: $363 per month
- Business Plan: $710 per month
- Premium Usage: $1,200 per month
To learn more about the features of each plan, you can request a demo or schedule a consultation with one of SEON’s specialists. The brand offers a free multi-day trial and simple pricing options with no setup or support fees.
We would recommend SEON to virtually any online company, but it may not be the ideal solution for everyone. If, for some reason, you feel like you want to explore other fraud detection software, here are some of the most popular ones:
- Riskified – read our review
- Sift – read our review
- Signifyd – read our review
- Ravelin – read our review
Frequently Asked Questions
Is Fraud Prevention Necessary?
The digital era we live in has disadvantages, such as online fraud. Nowadays, cybercriminals attempt fraud daily, from phishing to shopping scams to cryptocurrency theft. Recent FBI reports also reveal business loss of $1.8 billion from business email compromise (BEC) scams.
If we don’t protect our organizations, we subject our stakeholders to such activities. For this reason, fraud prevention has become a necessity for modern businesses, regardless of size or industry.
How Can I Find the Best Solution for My Business?
It’s hard to find software for particular needs, and we highly recommend testing a product before purchase. We signed up for a SEON plan because we used the free trial and discovered it works well with our current system. You can try SEON for free to learn if it can provide you with the tools you need to protect your organization.
How Can I Reduce My Chargeback Rate?
We learned three chargeback-reducing actions from SEON: screening new accounts, adding a security check per transaction, and filtering out repeat offenders.